Russia And China Ink Huge Oil Deals As Ukraine Tensions Soar — Simon Watkins

Moscow’s state-owned oil giant, Rosneft, signed a US$80 billion 10-year deal to supply the China National Petroleum Corporation (CNPC) with 100 million metric tonnes of oil.

This increase in crude oil delivery volumes and mechanisms to China is part of a broad-based strategy to circumvent to as great a degree as possible the effects of international sanctions against Russia.

This multi-level cooperation strategy between Russia and China provides financing into Russia from China, regardless of possible sanctions from the U.S. and its allies

Oilprice

Russia And China Ink Huge Oil Deals As Ukraine Tensions Soar

Simon Watkins